PGNiG pushes for Gazprom renegotiation
Polish gas giant PGNiG is pushing for renegotiation for gas supplied by Russia’s Gazprom in the next available round of negotations set for November, the company’s Vice-President, Finance Jarosław Bauc informed on Wednesday.
“There is window for negotiations with Gazprom in November and we’ll commence talks then,” Bauc said, adding, however, that “I can’t say now in which direction these talks will go.”
Bauc said that the company will import – as per the terms of the contract – the minimum amount of gas from Gazprom in 2014, some 8.7 billion cubic meters.
PGNiG purchased 8.73 billion cubic meters of gas from Gazprom Export in 2013, 73.4 percent of the Polish firm’s total imports. In 2012, PGNiG imported 9.02 billion cubic meters from Gazprom in 2012, accounting for 79.6 percent of total purchases that year.
Meanwhile, PGNiG has announced that in the fourth quarter of 2013, the company posted a net loss of PLN 161 million despite expectations of a PLN 755 million profit.
In Q4 2013, PGNiG recorded operating profits of PLN 94 million, with revenue at PLN 9.12 billion. However, the poor result is due to withdrawal of concessions which put back the company some PLN 184 million as well as bonus payouts amounting to PLN 252 million.
The company also noted that in 2013, the margin on high-methane gas amounted to -2 percent.
